SOURCE: Latitude Industries Inc.

May 21, 2010 19:20 ET

LTDU Breaking News: Latitude Industries Update

MIAMI, FL--(Marketwire - May 21, 2010) -  Latitude Industries Inc. (PINKSHEETS: LTDU), a holding company that exists to bring together a conglomerate of companies dedicated to the pursuit of fun and adventure in the outdoor world, announces a corporate update.

As part of the reorganization plan previously announced and the bold decision to restructure and reorganize our company we will update our share holders in the weeks to come on the following.

  • Corporate financials are in the final stage of in house auditing and corporate counsels are ready to issue opinion letters on the company financials to bring Pink Sheet to Current Status
  • Corporate accountant and counsel have advised to lower our Authorized number of shares
  • Previously announced acquisitions are still in the works and getting closer to finalization pending capital acquisition

In the past weeks we have experienced a good volume of calls and email enquiries for new boats. Carolina Hernandez, CEO of Latitude Industries, said, "As a whole the marine industry has seen a fresh outlook as consumer confidence is lifting and the US economy moves forward."

About Latitude Industries

Latitude Industries exists to bring together a conglomerate of companies dedicated to the pursuit of fun and adventure in the outdoor world by providing the best supplier of power sports and boating-related products with outstanding service and value to every customer. Our goal is to treat all of our customers even better than they expect to be treated so that they regard us as the best in our industry. It is always our priority to achieve superior financial returns for the benefit of our associates, customers and shareholders.

Forward-Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

Contact Information

  • Contact:
    Carolina Hernandez
    President and CEO
    Ph: 305-758-BOAT (2628)